Graycor Adds Industry Expert Todd Peters as Project Executive in Phoenix, AZ

Todd Peters 

PHOENIX, AZ – In response to ongoing demand, Graycor Construction Company has hired 27-year industry expert Todd Peters as Project Executive. Based in Graycor’s Southwest Regional Headquarters in Phoenix, Peters will support local project activity and the company’s continued growth in the national industrial buildings market.

“Todd’s broad understanding of the development process makes him a great fit for this role, which includes not only growing the Graycor industrial footprint across the U.S. but also supporting existing clients and prospects in metro Phoenix,” said Todd Ostransky, Graycor Construction Company Vice President of the Southwest Division. 

Todd Ostransky

“In both instances, Todd knows how to translate a client’s vision into an accurate and workable budget, then complete the due diligence needed to move that vision from conception into active construction.”

Prior to Graycor, Peters served in positions ranging from senior manager, chief estimator, project manager and operation manager for well-known and well-respected construction and real estate groups in the Pacific Northwest. 

While in these positions he completed projects within the industrial, office, residential, retail and public works sectors, including assignments for Nike, Dollar Tree, St. Vincent Hospital, Amazon and UPS.

Peters is a retired Navy veteran who served in Panama, Operation Desert Storm and Operation Desert Shield.

CONTACT:

Stacey Hershauer

focusAZ 

P 480.600.0195

www.focusaz.com

www.graycorconstruction.com.

Lincoln Property Co. Adds Afton Trail as Director of Property Management

Afton Trail

PHOENIX, AZ, Jan. 20, 2020 –- Lincoln Property Company (LPC) has hired industry veteran Afton Trail as Director of Property Management for the Desert West region.

 In her new role, Trail directs LPC’s Desert West portfolio of almost 10 million square feet of landmark office, industrial and retail space. She is also charged with identifying and pursuing opportunities to grow the LPC property management brand in the Desert West region states of Arizona, Nevada, Utah and New Mexico.

David Krumwiede

“Our Desert West property management portfolio is very diverse. It requires someone with equally strong industry knowledge to support our tenants and customers with the high-quality solutions they expect from Lincoln,” said Lincoln Property Company Executive Vice President David Krumwiede. 

“Afton has stepped into this role very successfully. We welcome her to the team and look forward to all she will do to continue our mission of excellence and help grow our property management footprint in the Desert West markets.”

Trail’s career spans almost 40 years in commercial real estate, including past roles in property management, asset management, leasing, acquisitions, dispositions and talent management.

At LPC, she directs a team of more than 18 property management experts who provide service for a host of landmark projects. Among these are The Grand at Papago Park Center, 3131/3133 Camelback, Promenade Corporate Center, Luhrs City Center, Paradise Village Office Park and the ADOA and ADEQ buildings in downtown Phoenix, as well as 5 million square feet of industrial product.

Prior to joining LPC Trail held executive leadership positions with CBRE and Cushman and Wakefield, where she provided oversight to property management teams across multiple markets and directed client care and development programs across all lines of business.

MEDIA CONTACT:

Stacey Hershauer

480.600.0195

stacey@focusaz.com

 www.lpc.com or www.lpcphx.com.

Luis Elorza joins NorthMarq in Tampa, FL

Luis Elorza    TAMPA, FL, Jan. 20, 2020 -- Luis Elorza has joined NorthMarq Investment Sales in Tampa, bringing his vast multifamily investment sales experience in central Florida, the company announced today.  Jason Nettles He brings more than 20 years of experience, representing regional and national owners in apartment sales of more than 48,000 units and has executed more than $4.5 billion in commercial real estate transactions ranging from value-add to core assets. Luis will partner with Investment Sales experts Jason Nettles and Megan Thompson in the Atlanta office and NorthMarq’s industry-leading multifamily debt and equity platform across the United States.  Megan Thompson  NorthMarq is one of the nation's largest and most prominent capital markets platforms, including close relationships with Freddie Mac, Fannie Mae, FHA/HUD, CMBS lenders, hundreds of local, regional and national banks and more life companies than any other firm in the country.  NorthMarq is a natural fit for Luis to better align his growing multifamily brokerage business in central Florida, and a significant move to better serve his clients.

CONTACT:

Luis Elorza Managing Director T 813.223.5307 C 813.842.9028 lelorza@northmarq.com

Jennifer Lawrence’s Manhattan Penthouse Price Cut Again to $12 Million

Jennifer Lawrence

Photo credit: Compass Realty        Source: www.compass.com

UPPER EAST SIDE, NEW YORK CITY, NY -- Jennifer Lawrence, the Academy Award-winning star of Silver Linings Playbook, The Hunger Games and American Hustle put her stunning New York penthouse in The Laurel up for sale last July and, with a downturn in the Manhattan luxury-condo market, has lowered the original price of $15.45 million to $14.25 million - now down to $12 million.

 Purchased in 2016 for $15.6 million, taking a loss on the property might not faze one of the highest-paid actresses in Hollywood. Though Lawrence got her big break in New York, she now spends her time in Los Angeles close to the studios.

Lawrence lived the fairytale that so many people fantasize about. As a teenager who was born and raised in Kentucky and acting in plays put on by her church group, it was a matter of being in the right place at the right time when on a 2006 vacation trip to New York with her parents at age 14, she was discovered by a talent scout who arranged an audition.

The audition went so well, they convinced her parents to let her audition in Los Angeles and her star was on the fast track leading quickly to television and film roles.

Fast forward to today at age 29, she has won an Academy Award for Best Actress in Silver Linings Playbook and three Golden Globes, a BAFTA award, seven MTV Movie Awards and six People’s Choice Awards.

 Her unassuming, down-to-earth personality and ability to keep life’s priorities straight in the face of fame, fortune and continuous media attention has made her America’s girl next door - and it doesn’t hurt that her acting roles have been some of the best in Hollywood.

By 2016, Lawrence could afford any living accommodations that suited her fancy and she picked a glamorous duplex penthouse on New York’s Upper East Side at the top of The Laurel, a 30-story condominium.

Aside from its stunning interior and views to die for, its 3,000-square-foot, two-floor outdoor terraces encompass all one could ask for gracious entertaining including an outdoor kitchen, fireplace with pergola, built-in pingpong table and amazing views of the city and Hudson River.

The Laurel Condos, 30 Stories, Upper East Side, New York, NY

The 4,073-square-foot apartment has three bedrooms, five baths and is filled with light through walls of glass. The formal living and dining room is surrounded by stunning city views and the eat-in chef’s kitchen has everything for the serious cook.

Pamela D’Arc 

 The master suite is unusually large and the game room opens to yet another spectacular view. The building’s amenities include a concierge, full-time doorman, gym, pool, sauna, screening room and private storage.

Superstar Jennifer Lawrence is selling her glamorous New York penthouse which she bought in 2016 for $15.6 million. Listed in July 2019 for $15.45 million, it has gone through two price cuts. Now priced at $12 million, the listing agent is Pamela D’Arc of Compass, New York City.

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

Price of John Barrymore’s Mansion With Secret Opium Den Dropped to $17 Million from $42.5 Million

John Barrymore's former home in Bella Vista, Beverly Hills, CA

Photo credit: Douglas Elliman   Source: www.thealtmanbrothers.com

 BELLA VISTA, BEVERLY HILLS, CA -- -- Historically connected to America’s first dalliance with opium and also the home of one of America’s most controversial great actors, Bella Vista mansion is for sale with its perfectly maintained opium den still in place, reached by a hand-carved ladder above the master suite.

John Barrymore

John Barrymore, who had been expelled from more schools than he later had marriages, seemed to play with life and surrounded himself with whatever exotica delighted him through his alcohol and opium-induced imagination.

The mansion had everything to feed his creativity from its stunning Pacific Ocean views to the large aviary, now a guest room, and plenty of space for his bizarre collection of shrunken heads.

Barrymore's "Upstairs" Secret Opium Den

For actors who could afford anything and especially an actor who had reached his pinnacle as one of the greatest and most versatile stars of his time, it’s not surprising that when opium began its popularity in the U.S. at the end of the 1800s, it was a natural vice for Barrymore to join in.

 He had started with alcohol as a teenager and had no qualms when it came to recreational drugs.

Entrance to Bella Vista Mansion

Inexpensive and easy to get, the U.S. government took note of the huge shipments that arrived first in San Francisco and eventually were distributed to all parts of the country.

Opium was the first drug to be controlled in the country, which was likely the case by the time Barrymore was old enough to create his fanciful opium den above his bedroom.

Today, the Spanish-style home with its many red-tiled roofs and gardens with winding paths through cultivated jungle is still dreamy.

Water trickles and splashes over the home’s waterfall spilling into the pool that overlooks the Los Angeles city skyline. When first offered for sale, the price included the entire seven acres and a number of extra buildings.

Today it encompasses one acre, 6,976 square feet of living area with a total of seven bedrooms and eleven baths distributed between the main house, two guest houses and two apartments.

Though updated to the 21st century in all the crucial places, the charm and allure are still quite evident in the dramatic fireplaces, redwood log floor in the cigar lounge and bar and one is never far away from the music of falling water from fountains or the pool waterfall.

Tracy Tutor

The master suite, one of three bedrooms in the main house, has a wraparound veranda which also has access to the opium den. Paneled walls, a wine cellar, decks, terraces, plenty of tile, wrought iron and a fabulous painted ceiling in the main living room are a few of the many elements that give the compound its character.

Now for sale is the much-visited home by the Old Hollywood elite who stayed there and may have found themselves draped across a magic carpet on the business end of an opium pipe.

John Barrymore’s great escape is now on the market, sans the shrunken heads. Priced at $16.995 million, the listing agents are Josh and Matt Altman and Tracy Tutor of Douglas Elliman, Beverly Hills.

CONTACT:

Genelle C. Brown

Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

JLL named to market Santa Barbara Public Market in Santa Barbara, CA

Marge Cafarelli

LOS ANGELES, CA – JLL Capital Markets announced it has been selected by Urban Developments to market for sale Santa Barbara Public Market, a 19,867-square-foot, LEED Certified, state-of-the-art artisanal food hall in Santa Barbara’s historic downtown district.

Completed in April of 2014, Santa Barbara Public Market comprises a two-story, LEED Gold food hall with a 4,500 sq. ft. basement. 

The food hall space is home to a curated list of popular food and beverage tenants, including Empty Bowl Gourmet Noodle Bar, Enjoy Cupcakes, Rori’s Artisanal Creamery, Wine + Beer, Corazon Cocina, The Garden, Wabi Sabi, Ca' Dario Pizzeria Veloce and Fala Bar. 

The market still has some of its original vendors that were there on opening day five years ago. The retail property is also home to a mural by renowned local artist Joseph Knowles, which has been designated as a Structure of Merit by the city of Santa Barbara.

Patrick Toomey 

Situated at 38 West Victoria Street, Santa Barbara Public Market is adjacent to Alma Del Pueblo, a premier condominium community, and proximate to State Street in the historic El Pueblo Viejo downtown district and other Santa Barbara tourism hot spots such as the Arlington theater, the New Vic theater and the Granada Theatre. 

Additionally, the property is in an affluent area with an average household income of $112,718 within a three-mile radius.

Marge Cafarelli, the California developer behind Urban Developments and who opened the Santa Barbara Public Market, spent five years developing the food hall into the successful and stabilized business that it is today. 

Initially opened with a mix of food and grocery tenants, she pivoted the retail property from a European-style public market to become a true food hall.

“Developing the Santa Barbara Public Market has been one of the hardest and one of the most gratifying projects I have ever done,” Cafarelli said. “We wanted to create a place for Santa Barbara to come together under one roof – a place that locals have embraced and now call their own.”

                        Tom Lagos

The JLL Capital Markets team representing the seller was led by Executive Vice Presidents Patrick Toomey and Tom Lagos.

“Marketing the Santa Barbara Public Market is an exciting opportunity since it is part of the hot Food Hall trend that is sweeping retail these days,” Toomey said. 

“The property boasts best-in-class construction, a diverse and successful tenant mix and a fantastic Santa Barbara location, making it an exceptional investment for the next owner.”

Food halls fill the experiential retail gap. They showcase local identity, serve nearby office and residential communities and promote local industries and small businesses. 

According to a JLL Report, more than 300 food halls will be operating in the U.S. by the end of 2020. Food continues to be the new anchor for retail assets. Shoppers who dine at a property stay, on average, 35% longer and increase transactions by 25%. Food-anchored assets continue to drive investor demand.

“Food Halls are an emerging trend in the retail space and are capitalizing on the consumer trend of wanting high quality food in an experiential setting,” Lagos added. 

“The Food Hall brings in diverse food artisans – in some cases celebrity chefs – in a hip, socially engaging environment. Many of these halls are Instagram hits not only for the food but also the crowd that they attract. We anticipate a continued upward trend for this product type as it matures.”

Santa Barbara Public Market, 38 West Victoria Street
 Santa Barbara, CA

Additionally, retail is seeing healthy demand. Over 9,500 tenants signed new or renewal leases in the second quarter of 2019, with gross absorption totaling approximately 48.5 million square feet. Total retail demand was led by restaurant/F&B tenants followed by service tenants.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.                                         

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, please visit jll.com.

CONTACTS:

 Patrick Toomey

Calif. License No: 00881133

Phone:  +1 213 239 6223

Email:  patrick.toomey@am.jll.com

Kimberly Steele

 JLL Senior Associate, Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

JLL Closes $16.6 Million Sale of Piedmont Healthcare Medical Office Campus in Statesville. NC

Mindy Berman

CHARLOTTE, NC – JLL Capital Markets announced it has closed the $16.6 million sale of The Piedmont Healthcare Medical Office Campus, a five-building, 91,844-square-foot medical office campus in Statesville, North Carolina.

Piedmont Healthcare Medical Office Campus, Statesville, NC

JLL represented the seller, SMG Leasing Associates, LLC, a real estate group comprising present and former Piedmont Healthcare physicians, and procured the buyer, a healthcare REIT.   

Daniel Turley

The Piedmont Healthcare Medical Office Campus is currently 93.6% leased and home to Piedmont HealthCare, one of the largest physician-owned and directed multi-specialty medical groups in North Carolina and the Southeast. 

The group has locations across the market and retains top market share in the region. 

The five-building medical office campus serves as Piedmont’s largest, all-in-one location, supporting numerous specialties, including pediatrics, dermatology, internal medicine, endocrinology, urology, pulmonology and more.

Zack Drozda

 The campus also includes a family-owned and operated retail pharmacy on site as well as parking for more than 500 vehicles. 

Located at 208 Old Mocksville Road and 129-152 Sherlock Drive, the 14.8-acre campus is adjacent to the Davis Regional Medical Center, a Community Health Systems affiliated hospital, and Interstate 40, providing connectivity to Charlotte and Winston-Salem, both of which are approximately a 40- to 45-minute drive from the property.

Ryan Gioffre 

The JLL Capital Markets team representing the seller was led by Director Zack Drozda and Managing Directors Mindy Berman and Daniel Turley. Ryan Gioffre and Bobby Finch from Triad Commercial also assisted the seller in the transaction.

“Piedmont Healthcare is the dominant physician-owned practice in Iredell County,” Drozda said. 

“The offering represented Piedmont’s flagship, multi-specialty location. As such, there was excellent interest across the spectrum, including private, institutional and REIT investors.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

Bobby Finch

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc., a licensed real estate broker.

  

Contact:

 Kimberly Steele
 JLL Senior Associate
 Public Relations 

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com.